According to ChainCatcher, the number of initial unemployment claims in the United States fell last week, showing strong momentum in the job market. As of the week ending May 11, the number of initial unemployment claims in the United States was 222,000, down from the previous week. This change is largely attributed to the surge in unemployment claims in New York related to the school spring break. Although the US labor market remains healthy, it is steadily rebalancing after the Federal Reserve has raised interest rates by 525 basis points since March 2022. The easing of labor market conditions and the resumption of the downward trend in inflation have increased the possibility of a rate cut in September.